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By Morag Miller

7th December 2022

New penalties for late VAT returns and payments

In the new year businesses and individuals who submit VAT returns late or miss their payment deadlines could be fined £200.

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By Emma Copley

29th November 2022

7 Tips to get your family finances in order – at Christmas and beyond

There is no escaping the fact that prices are going up and for many, it will be harder to budget this Christmas. Here are some simple money-saving tips to help you in the run-up to Christmas and into 2023 and beyond.

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By Armstrong Watson

23rd November 2022

Using invoice finance to support your business

One of the biggest challenges for any business is managing its working capital requirements, to ensure that there is sufficient cash within the business to fund day-to-day operations.

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By Armstrong Watson

22nd November 2022

Who is a Person with Significant Control (PSC) and what are their responsibilities?

Companies House has recently been writing to clients where they suspect that the PSC (Person with Significant Control) register is incorrect or has not been updated following changes in shareholders or ownership, as identified on the Companies confirmation statements.

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Financial planning

By Barry Fitzsimmons

21st November 2022

How good financial planning can help offset the impact of the Chancellor’s Fiscal Drag

It is likely that The Chancellor will continue to freeze a number of thresholds and allowances meaning that many people will be dragged in to paying more tax in one way or another. This is called “fiscal drag”.

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By Sarah Tallentire

21st November 2022

With inflation rising, should you rethink investment returns?

From January 2000 to the start of 2022, inflation averaged 2.3%. It has now (May 2022) jumped to 9% in the 12 months to April, up from 7% in March the highest for 40 years. That means that if you were born after the early 1980’s, you have not experienced the sort of economic environment we are now experiencing.

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By Armstrong Watson

18th November 2022

Income Tax Basis Period Reforms

The Government announced a major reform to the way in which a business owner’s trading profits are allocated against the relevant tax year for income tax purposes – otherwise known as their ‘basis period.’

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By Armstrong Watson

17th November 2022

Autumn Statement 2022 - a focus on stability, but will it help buyer confidence within the automotive sector?

The verdict from a pure tax perspective is probably that it isn’t as bad as it could have been, but that goes nowhere near explaining the whole story. 

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By Armstrong Watson

17th November 2022

Autumn Statement 2022 - lacks incentives for business owners

Having recently written an article of the now infamous “mini budget” in which I talked about it being very much a budget favouring business, this Autumn Statement has, in stark contrast, reverted to one of increased costs and taxes for business.

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By Graham Poles

17th November 2022

Autumn Statement 2022 - Personal Taxes and Fiscal Drag

As expected, the Chancellor did not make changes to the rates of income tax, national insurance, inheritance tax or capital gains tax (CGT), but what he did do is freeze the threshold on each one of these except CGT, meaning the rates everyone is paying today will be the same rates that will apply after April next year.

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